Following the partnership with TagHeuer last year, which resulted in the $1,500 smartwatch called Connected, Intel has now partnered with a running firm called New Balance that resulted in a more affordable smartwatch. The New Balance RunIQ is an Android Wear powered smartwatch for runners.

A 1.39-inch AMOLED display is powered by Intel's Z34XX processor, 512 MB of RAM with 4 GB of native storage on board, while a battery will keep the watch running 24 hours on a single charge. There is an optical heart-rate monitor, along with GPS, Wi-Fi and Bluetooth support.

The watch is already available for pre-order in black or gray, priced at $299.99, and will go on sale on February 1.

"New Balance has a 110-year heritage of product development and innovation in the running category, and RunIQ represents our commitment to helping athletes achieve unparalleled fitness experiences. A smartwatch for runners made by runners, RunIQ combines our expertise in running with the best engineering advances through breakthrough collaborations with some of the biggest players in the technological industry."-Rob DeMartini, President and CEO, New Balance